Trade Crypto Now

26 Jul 2024 10:44

📊 Bitcoin and Ethereum plunge after US tech sell-off, sparking $300 million in losses

The crypto market declined by around 5% in the last 24 hours, aligning with a significant drop in major US stock shares, which sent global markets downward. Bitcoin’s price fell almost 3%, falling from $67,000 to around $64,000, while Ethereum experienced an even steeper decline, dropping nearly 8% from $3,400 to about $3,100.

Source

@TradeCryptoNow

Trade Crypto Now

24 Jul 2024 06:50

🏦 Mt. Gox creditors start receiving bitcoin and bitcoin cash on Kraken

Creditors of the collapsed crypto exchange Mt. Gox have begun receiving bitcoin and bitcoin cash transfers on the crypto exchange Kraken, according to a Telegram group of Mt. Gox creditors. The Block also confirmed one payout with a source. The payout comes after Kraken received 48,641 BTC, valued at over $3 billion, from the Mt. Gox Rehabilitation Trustee on July 16 to disseminate to creditors, The Block previously reported. The exchange expected creditors to retrieve their funds within one to two weeks.

Source

@TradeCryptoNow

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22 Jul 2024 08:32

🪙 DOGE open interest up 19% amid price 'breaking out' to monthly high

Traders are ramping up their positions on Dogecoin as its price "breaks out," reaching its highest monthly level on July 20. However, not all are convinced that the bullish pattern is confirmed just yet. “DOGE is breaking out and looks primed for an aggressive up move,” pseudonymous crypto trader Shelby wrote in a July 20 X post. They reiterated that Doge’s price breaking out has previously been “a catalyst” for other altcoins to follow, including Floki (FLOKI) and Shiba Inu, which have increased 37% and 3.89% respectively, according to CoinMarketCap data.

Source

@TradeCryptoNow

Trade Crypto Now

20 Jul 2024 09:29

🪙 Cboe confirms trading launch of 5 spot Ethereum ETFs on July 23

The Chicago Board Options Exchange (Cboe) issued listing notifications for five new spot Ethereum exchange-traded funds (ETFs) scheduled to begin trading on July 23 — confirming reports from earlier in the week. The notifications clarify that the funds are pending final regulatory approval. The five ETFs are 21Shares’ CETH, Fidelity’s FETH, Franklin Templeton’s EZET, Invesco’s QETH, and VanEck’s ETHV.

Source

@TradeCryptoNow

Trade Crypto Now

18 Jul 2024 09:34

🪙 Bitwise CIO predicts Ethereum ETF inflows will push ether prices to all-time highs above $5,000

Matt Hougan, Chief Investment Officer at crypto asset manager Bitwise, said spot Ethereum exchange-traded fund inflows could have a bigger impact on ether upon launch than the equivalent products did for bitcoin. He said he expected the first few weeks once the Ethereum ETFs go live to be “choppy” for the second largest cryptocurrency by market cap as funds potentially flow out of the $11 billion Grayscale Ethereum Trust (ETHE) after its conversion to a spot ETF.

Source

@TradeCryptoNow

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16 Jul 2024 19:54

💰 US spot bitcoin ETFs see $300 million inflows on seventh consecutive day of positive flows

The 11 spot bitcoin exchange-traded funds in the U.S. reported a daily net inflow of $301 million, extending its positive streak to a seventh consecutive day. BlackRock’s IBIT, the biggest spot bitcoin ETF by net asset value, recorded the largest net inflows of the day with $117.25 million, according to SoSoValue data. The fund was also the most traded bitcoin ETF on Monday, with a volume of $1.24 billion. Ark Invest and 21Shares’ ARKB closely followed with net inflows of $117.19 million.

Source

@TradeCryptoNow

Trade Crypto Now

15 Jul 2024 17:39

🇺🇸 Trump to Address Bitcoin 2024 Conference Despite Assassination Attempt

Former President Donald Trump, who survived an assassination attempt during a rally in Pennsylvania on July 13, is reportedly still scheduled to address the Bitcoin 2024 Conference, taking place in Nashville from July 25 to July 27. According to David Bailey, CEO of Bitcoin Magazine and cryptocurrency advisor to the Trump campaign, he spoke with Trump’s team after the incident and was informed of the former President’s intention to attend.

Source

@TradeCryptoNow

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14 Jul 2024 07:40

🪙 Tether (USDT) Loses Ground on Centralized Exchanges, Down to 74% Market Share

Even with several high-profile collapses and de-pegging events in recent years, stablecoins have continued to capture market share from fiat, reflecting strong demand increasingly. Although the stablecoin market is still highly concentrated, with Tether’s USDT at the forefront, its dominance has been eroding over the last two years. In 2024, USDT’s market share on centralized exchanges (CEXs) dropped from 82% to 74% per Kaiko’s estimates.

Source

@TradeCryptoNow

Trade Crypto Now

13 Jul 2024 07:51

🟠 Seven Years of Binance: CEO Richard Teng Shares Insights on Achievements and Future Goals

Binance is celebrating its seventh anniversary, reflecting on its growth and achievements in the rapidly evolving cryptocurrency industry. In an open letter, Binance CEO Richard Teng shared his insights and perspective on the company’s journey and future.

Source

@TradeCryptoNow

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12 Jul 2024 07:39

🇺🇸 CFTC Chair Pushes for Federal Legislation to Regulate Bitcoin and Ether as Commodities

During his Senate testimony, the chairman of the Commodity Futures Trading Commission (CFTC) emphasized the necessity of federal legislation to regulate digital commodities such as bitcoin and ether. Citing market volatility and fraud, the chairman advocated for expanded regulatory powers to safeguard investors and maintain financial stability. He also referenced a recent court ruling that reaffirmed the status of the two largest cryptocurrencies as commodities.

Source

@TradeCryptoNow

Trade Crypto Now

11 Jul 2024 17:12

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10 Jul 2024 07:05

🪙 Circle’s USDC Emerges as Top Beneficiary of EU’s Push for Compliant Stablecoins

The MiCA regulation has created an increased demand for compliant stablecoin, with Circle’s USDC emerging as a primary beneficiary of the trend. In its latest report, Kaiko revealed that non-compliant stablecoins account for 88% of the total stablecoin volume, at present. But Europe’s Markets in Crypto-Assets Regulation (MiCA), which was implemented on June 30, is expected to change this dynamic, resulting in market makers favoring compliant stablecoins over non-compliant alternatives.

Source

@TradeCryptoNow

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09 Jul 2024 07:46

💰 Metaplanet Announces Bitcoin Purchases Totaling Nearly $2.5 Million

Metaplanet, a Tokyo-listed public company, has disclosed it has completed bitcoin purchases amounting to 400 million yen (almost $2.5 million). The company, which vowed to use bitcoin as a strategic reserve asset to navigate the uncertainties of the Japanese economy and the devaluation of the yen, acquired 42.466 bitcoin at an aggregate price of $58,600 per bitcoin.

Source

@TradeCryptoNow

Trade Crypto Now

08 Jul 2024 09:47

💰 Jack Dorsey Envisions Bitcoin Replacing US Dollar — Foresees BTC Reaching $1 Million

Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin’s value could soar to $1 million by 2030. Highlighting the cryptocurrency’s decentralized nature, Dorsey underscores its potential to democratize financial systems and reduce reliance on traditional banking institutions.

Source

@TradeCryptoNow

Trade Crypto Now

07 Jul 2024 17:12

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25 Jul 2024 08:34

💰 VanEck predicts Bitcoin could hit $2.9 million by 2050 in ‘base case scenario’

VanEck outlined an ambitious scenario in which Bitcoin (BTC) could reach a staggering $2.9 million per coin by 2050 under a “base case scenario” in its latest research report. According to the report — authored by the firm’s head of digital assets, Matthew Sigel, and senior investment analyst Patrick Bush — the projected valuation hinges on Bitcoin’s adoption as a global medium of exchange and a reserve asset, which could potentially revolutionize the international financial system.

Source

@TradeCryptoNow

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23 Jul 2024 08:31

🪙 Spot Ethereum ETFs get final sign off to begin trading Tuesday

Some spot Ethereum exchange-traded funds have received the go-ahead and can begin trading on Tuesday, following weeks of back-and-forth on edits to registration statements. The U.S. Securities and Exchange Commission allowed registration forms from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck and Invesco Galaxy to go effective as of Monday afternoon. Registration forms for the Grayscale Ethereum Trust and the Grayscale Ethereum Mini Trust also went effective on Monday.

Source

@TradeCryptoNow

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21 Jul 2024 10:44

💰 Bitcoin Now In French Pension Plans!

VanEck has partnered with Inter Invest to introduce Bitcoin to French pension savings plans through an innovative Exchange Traded Note (ETN). This groundbreaking collaboration marks the first time French pension investors can gain exposure to digital assets in a regulated and secure manner. The product, the $407 million VanEck Bitcoin ETN (VBTC), provides a new way to include Bitcoin in retirement portfolios, offering transparency, security, and diversification.

Source

@TradeCryptoNow

Trade Crypto Now

19 Jul 2024 10:39

💰 US spot bitcoin ETFs post ninth consecutive day of net inflows

The 11 U.S. spot bitcoin exchange-traded funds saw $53.35 million in total daily net inflows on Wednesday, extending the positive streak to its ninth day. However, Wednesday’s net inflows were significantly lower than Tuesday’s $422 million. The largest spot bitcoin ETF in terms of net asset value saw $1.21 billion worth of trade volume on Wednesday. The only other fund that posted net inflows was Fidelity’s FBTC, which reported $2.83 million.

Source

@TradeCryptoNow

Trade Crypto Now

17 Jul 2024 09:37

🪙 SEC has given ‘preliminary approval’ to at least 3 ETH ETF issuers

BlackRock, Franklin Templeton, and VanEck have reportedly received preliminary approval from the US securities regulator.

🤝 @Cryptocurrency_Inside ✅

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16 Jul 2024 08:59

🏦 Crypto advocacy platform founder Paul Brigner becomes head of Coinbase Institute

Paul Brigner has joined the crypto exchange Coinbase as head of Coinbase Institute. "At Coinbase, I will have the chance to expand the Institute’s scope, driving thought leadership through research and close collaboration with a diverse technology policy community, including industry partners, think tanks, academic institutions, trade associations, advocacy organizations, and more," Brigner wrote on the social media platform X.

Source

@TradeCryptoNow

Trade Crypto Now

14 Jul 2024 20:07

💰 Institutional Liquidity Providers and OTC Desks Absorbed 88% of Germany’s Bitcoin Sales

Institutional liquidity providers, market makers, and over-the-counter (OTC) trading desks, regardless of the term you choose, have taken in most of Germany’s bitcoin since sales began in June 2024. Data reveals that only a small amount of BTC was moved to centralized crypto exchanges like Coinbase, Kraken, and Bitstamp.

Source

@TradeCryptoNow

Trade Crypto Now

13 Jul 2024 17:42

🟠 Binance Seeks to Reduce Stake in Operator of South Korean Crypto Exchange Gopax to 10%

Binance is reportedly seeking to reduce its stake in the South Korean crypto exchange Gopax’s parent company, Streami, to approximately 10%. Binance’s mooted sale of the stake to Megazone comes just over a year after Binance acquired the controlling stake. The exchange needs to offload the stake well before the August 11 deadline for reporting changes related to renewing real-name accounts.

Source

@TradeCryptoNow

Trade Crypto Now

12 Jul 2024 17:49

💰 US Bitcoin ETFs Continue Inflow Streak, Funds Now Hold 4.47% of BTC’s Market Cap

The U.S. spot bitcoin exchange-traded funds (ETFs) experienced another day of net inflows on Thursday, marking five consecutive trading days of positive movement. The ETFs accumulated $78.93 million, with Blackrock’s IBIT leading by bringing in $72.09 million. Among the 11 spot bitcoin ETFs trading in the U.S., a total of $78.93 million was recorded in inflows, with IBIT capturing the bulk by securing $72.09 million. At the time of writing, data from the IBIT web portal indicates that Blackrock’s BTC fund now holds 314,204.3 BTC.

Source

@TradeCryptoNow

Trade Crypto Now

11 Jul 2024 21:22

💰 Malaysian crypto miners stole $722 million worth of power: energy official

Cryptocurrency miners in Malaysia stole at least RM3.4 billion ($722 million) worth of power between 2018 and 2023, the country’s energy official said. Akmal Nasrullah Mohd Nasir, deputy energy transition and water transformation minister, said on Wednesday that the illegal crypto mining activities have become more widespread, local news website Malay Mail reported.

Source

@TradeCryptoNow

Trade Crypto Now

11 Jul 2024 07:44

💰 Bitcoin whales are accumulating at their fastest rate since April 2023: CryptoQuant

Bitcoin long-term holders are adding to their holdings at the fastest monthly rate since April 2023, according to CryptoQuant analysts. "Bitcoin whales have been increasing their holdings at a monthly growth rate of 6.3%, the fastest pace since April 2023, indicating rising demand for bitcoin," CryptyQuant said. Wednesday's market report from the analytics firm noted that the increase in bitcoin demand from long-term holders is supporting the digital asset's price.

Source

@TradeCryptoNow

Trade Crypto Now

09 Jul 2024 22:02

🪙 Invesco Galaxy sets spot Ethereum ETF fee at 0.25% in latest round of filings

Issuers for the Invesco Galaxy Ethereum exchange-traded fund set its fee at 0.25% in the latest round of filings as firms seek to launch spot Ethereum ETFs. The fund disclosed its fee in an amended S-1 registration statement filed to the U.S. Securities and Exchange Commission on Tuesday. Invesco Galaxy's fee is a bit higher than other firms that have disclosed. VanEck set its fee at 0.20% after Franklin Templeton set its at 0.19% last month.

Source

@TradeCryptoNow

Trade Crypto Now

08 Jul 2024 17:58

💰 Bitcoin OTC desk balances hit over 300,000 BTC

Bitcoin’s total OTC desk balance demonstrates notable trends correlated with price fluctuations. The chart from CryptoQuant highlights the relationship between Bitcoin price movements and OTC desk balances, which have shown significant activity throughout 2024. The recent surge in OTC desk balances reaching over 300,000 BTC aligns with Bitcoin’s price hitting around $55,000.

Source

@TradeCryptoNow

Trade Crypto Now

07 Jul 2024 19:37

🪙 Tron develops gas-free stablecoin for Ethereum and Tron chains

Tron founder Justin Sun has revealed that his team is building a gasless stablecoin solution to make peer-to-peer transfers free for all. Sun hopes to integrate the stablecoin solution on the Tron blockchain in the fourth quarter, followed by Ethereum and other Ethereum Virtual Machine-compatible public chains soon after. “Transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves,” Sun explained in a July 6 X post.

Source

@TradeCryptoNow

Trade Crypto Now

06 Jul 2024 14:37

💰 Bit Digital, Iris Energy report declining Bitcoin output, rise in hash rate YoY

Bit Digital and Iris Energy reported June Bitcoin (BTC) mining results on July 5, posting one-year hash rate increases alongside reduced BTC output since April. Bit Digital reported a hash rate of 2.57 exahashes per second (EH/s) as of June 30, up from 2.54 EH/s in May and 1.78 EH/s in June 2023. The firm produced 61.7 BTC in June, down 2.5% from May. In earlier reports, the company said it produced 63.3 BTC in May and 119.3 BTC in April.

Source

@TradeCryptoNow